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Birla plans to exit low-margins business in India, abroad

Ruminates sale of its fertiliser business

A farmer casts urea on her mustard field in Allahabad
A farmer casts urea on her mustard field in Allahabad

The Aditya Birla Group is planning to exit low margins business in India and abroad, as part of its plan to reorganise its activities, post-merger of its two holding companies - Grasim and Aditya Birla Nuvo. As part of its strategem, the group has identified the sale of its fertiliser business that had earned it ~2,498-crore of revenue in FY16. The business is currently operated by Indo Gulf Fertilisers, a subsidiary of Aditya Birla Nuvo.     According to a banking source, the process to sell the fertiliser business has been initiated; the sale would be complete by the ...